WASHINGTON, Aug 3 — Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy yesterday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector. The company estimated both assets and liabilities in...
Monday, 03 Aug 2020 09:02 AM MYT
WASHINGTON, Aug 3 — Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy yesterday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector. Fashion rental service start-up Le Tote acquired Lord & Taylor last year from Saks Fifth Avenue owner Hudson’s Bay Company for C$100 million .
Reuters reported in May that Lord & Taylor planned to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus were lifted as it braced for a bankruptcy process from which it did not expect to emerge.
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